SUBSTANTIVE Definition

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SUBSTANTIVE is reality, real rather than apparent, as seen by an unbiased observer and not just the official view of management.

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PURE COST is any direct readily verifiable cost assignable to the subject or item, e.g., the direct cost of producing a product.

FOREIGN CURRENCY TRANSLATION is the process of restating foreign currency accounts of subsidiaries into the reporting currency of the parent company in order to prepare consolidated financial statements in the native currency of the parent company.

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